Dear friend,

This article is really going to be personal and very touching. Why? It is going to be so because as you read it, you will be forced to take a look at your life. In life, many entrepreneurs fail to succeed in business. Even with the best economic policy and the right market or product, they still fail to succeed in business.

The fault lies neither in the economy nor the product but in you the entrepreneur. I am going to reveal 3 fundamental reasons why entrepreneurs fail to succeed in business. Below are the 3 reasons entrepreneurs fail:

1. Lack of a well defined purpose:

This is a major reason why entrepreneurs fail. I have come across entrepreneurs without personal purpose, not to talk of their business purpose. They have no dream, no mission, and no target. This type of entrepreneur wakes up in the morning and say "let me go out and see what today holds for me." They have no set goal.

If you take a closer look at these entrepreneurs, you will observe that their life is driven by fate. They believe in luck and simply takes whatever comes to them with this sentences "such is life" or "life is unfair." They have lost control of their destiny.

I have a friend who happens to be an entrepreneur. He plays the lottery weekly, hoping to hit millions one day. He goes to his business daily hoping that one day; he is going to make a kill.
Now he has faith that he is going to make it in life but the problem is that his faith and hope are channeled in the wrong direction. The truth is this; this kind of entrepreneur is never going to succeed in business but anyway, i wish him the best of luck.

2. Inability to aim above mediocrity:

Entrepreneurs with this type of attitude are better than those without a well driven purpose. But the problem with this class is that they fail to aim above mediocrity. These groups usually take the bold step to set goals but they set small goals.

They set goals they know they can achieve easily. They don't want to stress themselves. An example of such is an entrepreneur with a current year turnover of $1,000,000, setting the goal of achieving a turnover of $1,200,000 in the coming year. Now what stops this entrepreneur from setting a turnover goal of about $2,000,000 - $2,500,000? The reason is mediocrity. They don't want to pay the price for success. I just remembered a quote from my mentor:

3: Lack of self discipline: This is another hot reason why entrepreneurs fail to succeed in business. The worst thing about an entrepreneur that lacks self discipline is that there is no remedy. He can never succeed in business even when placed in the best economy. Self discipline is self control and it results fro self imposed personal standard.

In conclusion, don't just read this article and dump it. Instead, read it and analyze your life to see if you possess any of these traits. Do this and i will see you at the top.